Austin's Sun Devil Teams went 35-16 (.687) in his two Pac-10 Seasons (1989-1991), and lead them to their first NCAA bid and 20-win season for the first time in 10 years during his 1990-1991 campaign, starting in every game during the season. In his two seasons at ASU, Austin averaged 15.0 points per game and 7.4 rebounds per game in 61 games. As a senior he led the Sun Devils in scoring (16.3) and rebounding (8.7). Austin's Sun Devil's won the ASU/Tribune Classic for the second straight year in 1991.

The Sun Devils defeated Texas in the title game and Austin was named to the All Tournament team, and was also named to All-Pac-10 team in 1991. Austin was selected by the Utah Jazz in the second round (48th overall) of the 1991 NBA Draft. While in his rookie year, he assisted the Jazz with their most successful season. The Jazz went 55-27 over the season, winning the Midwest Division Title for the first time since 1989. In the playoffs, the Jazz defeated the LA Clippers 3-2 in the first round, then took care of the Seattle SuperSonics in the second round, 4-1, advancing to the Western Conference Finals for the first time, where they were defeated by the Portland Trail Blazers 4-2.

Austin averaged 22.3 points and 13.9 rebounds during the 1995-1996 season in Turkey, and he returned to the NBA the following season as a member of the Miami Heat.

Recipient of the NBAs coveted "Most Improved Player" Award in 1997 with Miami, Austin retired after playing nine NBA seasons with teams including Utah, Philadelphia, Miami, Los Angeles Clippers, Orlando, Washington and Vancouver/Memphis. He had over 3,000 points and 200 blocks in his NBA career.

While in Miami (1996-1997), Austin played in all 82 games, making 17 starts, most when star center Alonzo Mourning was sidelined by injury, and averaged career-highs of 9.7 points and 5.8 rebounds in 22.9 minutes. He started 14 consecutive games from Feb. 23 to March 23, 13 of them in place of Mourning, and averaged 15.1 points and 8.2 rebounds in 34.5 minutes during that stretch. Austin shot a career-high .502 from the field, second-best behind Mourning among players in the Heat's regular playing rotation. He scored in double figures 39 times, including 22 of Miamis last 31 games, and reached double figures in rebounds 13 times. He had 11 double-doubles. Austin raised his career-high in scoring four times in a two-week period, peaking at 26 points, when he shot 9-for-11 from the field and 8-for-10 from the line. Austin came off the bench in 15 of Miamis 17 playoff games, averaging 6.5 points and 4.4 rebounds in 19.1 minutes.

Ike and his wife, Denise, were married on Christmas Eve in 1992 in Salt Lake City. They have two children, Wesley, Vanessa, Amira and Alex.